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If banks just took deposits and lent them out then that would be OK but the majority of what a bank lends out is money created as debt from thin air. The bank then charges interest on the freshly created money and then uses the proceeds to speculate in the financial markets, raising asset prices...

The thing is you don't have to bail out a bank to guarantee the average man on the streets deposits. The UK financial compensation scheme guarantees £75k of deposits per person per firm if a financial institution goes bust.

Absolutely this, in my opinion the whole world economy is on the brink, probably starting with the stock market where the QE money and low interest rates has created a massive speculative bubble and other assets such as property will probably follow on. All it needs is a trigger which could be a...